Content subscription service company OnlyFans has reversed its previous plan to ban sexually explicit content on its platform. The company said it will no longer be making its planned policy change and assured users that its platform will continue to be a "home for all creators."
The suspension of its initial plans came after a widespread outcry amongst sex workers who had helped in ensuring the company's success and popularity. While the platform was originally meant to be a platform for celebrities and online influencers, it has since become the hub for sexually explicit content creators.
OnlyFans said in a statement that it had "secured assurances" to justify its decision to suspend its planned policy changes, which would have taken effect in October. The changes would effectively ban all explicit and sexual content on its platform, potentially resulting in the closure of thousands of accounts.
The company's CEO, Tim Stokley, previously said the decision to implement the changes was due to pressures from its "banking partners and payout providers." In a recent statement, Stokley admitted that banks such as JP Morgan and Bank of New York Mellon had been blocking some of its payments to creators.
Content creators on the platform rejoiced at the decision. One content creator said the reversal felt like she was given back her right to work. Another worker said OnlyFans' platform had transformed her life by allowing her to transition away from doing full-service sex work.
Since the pandemic, sex workers have been forced to find other means of income as in-person contacts were increasingly becoming dangerous because of the virus. Some were able to completely transform their lives using the streaming platform.
OnlyFans currently has more than 2 million content creators on its platform. These creators collectively generate an estimated $5 billion. Content creators make money through the platform from users who subscribe to their content and those that give out one-time tips. The platform also offers a feature that allows content creators to host pay-per-view events.
OnlyFans generates its income from taking a small cut out of all transactions. Last year, the company said it had generated more than $2 billion in sales from its more than 130 million active users.
